Three Lions Acquisition Corp (NASDAQ:TLAC) filed its Form 10-Q for the quarter ended September 30, 2026, reporting its first full quarterly results since inception on March 10, 2026, and disclosing the status of its trust account, share redemption structure, and sponsor share forfeitures.

Key Highlights

  • Trust Account: Marketable securities held in the Trust Account totaled $100,783,871 as of September 30, 2026, according to the filing.
  • Shares Subject to Redemption: 10,000,000 ordinary shares are subject to possible redemption at a redemption value of $10.08 per share.
  • Net Income: The company reported net income of $241,289 for the three months ended September 30, 2026, and net income of $185,333 for the period from inception through September 30, 2026.
  • Sponsor Share Forfeiture: The Sponsor forfeited 500,000 ordinary shares on September 15, 2026, following EBC's September 10, 2026 decision to forfeit the over-allotment option.
  • Shares Outstanding: As of November 10, 2026, there were 13,933,333 ordinary shares issued and outstanding at $0.0001 par value.
  • Private Placement: 400,000 Private Placement Units were sold for proceeds of $4,000,000 during the period.
  • Total Assets: Total assets were reported at $101,980,748, with cash on hand of $1,053,644.

Three Lions Acquisition Corp Financial Position and IPO-Period Activity Through September 30, 2026

Three Lions Acquisition Corp, a Cayman Islands blank check company headquartered in La Jolla, California, disclosed its first quarterly financial statements covering activity from its March 10, 2026 inception through September 30, 2026. According to the filing, the company completed its initial public offering during the third quarter and deposited $100,500,000 into a Trust Account, which had grown to $100,783,871 as of the balance sheet date, reflecting $283,871 in interest earned on marketable securities held in trust.

The filing reports that 10,000,000 ordinary shares are classified as subject to possible redemption at a per-share redemption value of $10.08. Outside of those shares, 3,933,333 ordinary shares were issued and outstanding as of September 30, 2026, excluding the 500,000 shares forfeited by the Sponsor on September 15, 2026. The forfeiture followed EBC's September 10, 2026 decision to forfeit the over-allotment option, the filing noted. Net income for the three months ended September 30, 2026 was $241,289, driven in part by a $91,400 change in fair value of the over-allotment option liability and $283,871 in trust interest income, partially offset by $133,982 in operating and formation costs.

Total shareholders' equity stood at $811,969 as of September 30, 2026. The company reported total current liabilities of $384,908, including accounts payable and accrued expenses of $230,541 and accrued offering costs of $139,280. Cash flows from financing activities included $98,000,000 in proceeds from the sale of Units net of underwriting discounts, $4,000,000 from the sale of Private Placement Units, and $150,000 from a promissory note with a related party. The filing also indicates a subscription share receivable balance of $25,000 remaining as of September 30, 2026. The registrant identified itself as a non-accelerated filer, smaller reporting company, emerging growth company, and shell company.

What Was Disclosed

Three Lions Acquisition Corp filed its 10-Q for the quarter ended September 30, 2026, covering its financial statements from inception, trust account holdings of $100,783,871, a 500,000-share sponsor forfeiture, and net income of $241,289 for the quarter.